After falling for two consecutive weeks, the country's foreign exchange reserves rose massively by 4.075 billion US dollar to 350.86 billion US dollar in the week ended March 4, helped by robust rise in foreign currency assets (FCAs), Reserve Bank said today. In the previous week, the reserves had fallen by 3.58 billion US dollar to 346.788 billion US dollar.FCAs, a component of overall reserves, increased by 2.448 billion US dollar to 327.475 billion US dollar in the period, RBI said in a release in Mumbai.FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, in the reserves. Gold reserves increased by 1.628 billion US dollar to 19.324 billion US dollar in the week.
News On AIR | March 11, 2016 8:52 PM
Sharp rise in India's foreign exchange reserves